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Cabaletta Bio Q3 net loss slightly beats analyst expectations

By Reuters News


Overview

  • U.S. cell therapy developer's Q3 net loss slightly beat analyst expectations

  • Q3 operating expenses rose yr/yr to $54.7 mln

  • Company ended Q3 with $299.4 mln in cash, extending runway into Q1 2028


Outlook

  • Cabaletta expects RESET-Myositis topline results in 2H27, with BLA submission planned for 1Q28

  • Company plans to announce PC-free program clinical development plans in 1H27 based on maturing data

  • Company expects cash position to fund operations into 1Q28


Result Drivers

  • INCREASED ENROLLMENT - Co said enrollment and screening activity in adult myositis study rose after a slower Q3, citing patient and physician caution following safety events elsewhere

  • HIGHER R&D SPEND - Research and development expenses increased yr/yr as co advanced clinical trials across multiple autoimmune indications

  • OUTPATIENT DOSING OPTION - Co said registrational cohorts in myositis and systemic sclerosis now include outpatient dosing, citing safety profile of rese-cel


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

Slight Beat*

$53.05 mln

$53.39 mln (6 Analysts)

Q3 Income from Operations

-$54.71 mln

Q3 Operating Expenses

$54.71 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Cabaletta Bio, Inc. is $13.50, about 850.7% above its November 4 closing price of $1.42


Reuters Recommended Reads

  • Nov 4 - Nurix says Sanofi discontinues autoimmune disease drug program

  • Nov 4 - Dianthus Therapeutics Q3 net loss widens as clinical spending rises; sees MMN data in December

  • Nov 4 - Kailera Therapeutics Q3 net loss widens on higher R&D costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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